State throwback and throwout rules may not be widely understood, but they have a notable impact on business location and investment decisions and reduce economic efficiency for the states which impose such rules.
3 min read
Over the last three years, eight European OECD countries have made changes to their dividend tax rates. Iceland, Norway, Slovenia, Switzerland, and Turkey increased their rates, each between roughly one and three percentage points. France, Greece, and Latvia cut their rates by 10 percentage points.
2 min read
Five states currently collect corporate AMTs: California, Iowa, Kentucky, Minnesota, and New Hampshire. This is a significant drop from the eight states that levied AMTs in tax year 2017.
2 min read
Ten European OECD countries recently changed their top personal income tax rates. Of the ten countries, six cut their top personal income tax rates while the other four raised their top rates.
4 min read
The pandemic precipitated the steepest decline in economic output and employment in recent history, which is leading to a drop in tax revenue. At the same time, the federal response to the crisis is producing a large increase in spending. This combination will cause the federal budget deficit to spike.
5 min read
State tax revenue collections were down 5.5 percent in FY 2020, driven by a dismal final quarter (April through June) as states began to feel the impact of the COVID-19 pandemic. While these early losses are certainly not desirable, they are manageable and far better than many feared.
16 min read
Just as COVID-19 is putting pressure on other sources of revenue, the loss of VAT revenues resulting from the crisis will force governments to evaluate their VAT systems.
3 min read
Under an individual AMT, many taxpayers are required to calculate their income tax liability under two different systems and pay the higher amount.
2 min read
Over the last two decades, corporate income tax rates have declined around the world. Our new map shows the most recent changes in corporate tax rates in European OECD countries, comparing how combined statutory corporate income tax rates have changed between 2017 and 2020.
3 min read
A marriage penalty exists when a state’s income brackets for married taxpayers filing jointly are less than double the bracket widths that apply to single filers.
2 min read